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House Orders Committees to Submit Audit Reports on 2012 Budget

14 Nov 2012

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National Assembly Complex


Onwuka Nzeshi in Abuja
Speaker, House of Representatives, Aminu  Tambuwal, Tuesday  ordered  the  89 standing  committees of the House  to submit their final reports  on the one-week oversight recently conducted on the 2012 Appropriation Act.

The budget audit reports, Tambuwal said, must be submitted on or before tomorrow to enable the House fully assess the level of implementation of the budget by the  Ministries, Departments and Agencies (MDGs).

The budget has been a source of conflict between the House and the Presidency since July when some members proposed that President Goodluck Jonathan be sanctioned if he failed to fully  implement it.

The move to get a final appraisal of the 2012 budget came just as President Jonathan formally  wrote  to the lower chamber of the National Assembly seeking amendments to  2012 to 2014 Medium-Term External Borrowing Plan.

He also forwarded the  2013 budget proposal of the Universal Service Provision Fund (USPF) and  the Nigerian Communications Commission (NCC) to the House.
The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, had recently unveiled the plan when she appeared before the House Committee on Aids, Loans and Debts.
Under the plan, Nigeria is to  issue a $1 billion Eurobond to fund its power sector reforms and another $100 million Diaspora Bond next year to encourage the  participation of Nigerians abroad in the development of the country.

Also in the plan, is a  $200 million loan  from the African Development Bank (ADB) to fund a water project in selected states of the country.

The borrowing plan also includes a housing scheme to be financed using a $300 million credit facility from the  World Bank.

“We would like to swap this new $300 million credit facility with the proposed guarantees for the power sector in the draft

Tags: Politics, Nigeria, Featured, 2012 Budget

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